Optimize Financial Inc Purchases New Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Optimize Financial Inc acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,484 shares of the company’s stock, valued at approximately $1,182,000. Zoom Video Communications makes up about 0.9% of Optimize Financial Inc’s investment portfolio, making the stock its 29th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Global X Japan Co. Ltd. increased its stake in Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after buying an additional 190 shares during the period. Avior Wealth Management LLC increased its position in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 258 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Zoom Video Communications in the fourth quarter worth about $39,000. Finally, MRP Capital Investments LLC boosted its holdings in Zoom Video Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock valued at $49,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

ZM opened at $71.34 on Friday. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock’s 50 day moving average price is $76.77 and its 200 day moving average price is $78.43. The stock has a market cap of $21.78 billion, a P/E ratio of 23.78, a P/E/G ratio of 5.48 and a beta of 0.67.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ZM shares. Barclays dropped their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Rosenblatt Securities restated a “buy” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Scotiabank reduced their target price on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Monday, March 17th. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Finally, Citigroup reduced their price objective on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $89.33.

Insider Activity

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the sale, the director now directly owns 169,452 shares of the company’s stock, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 118,036 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 316,449 shares of company stock valued at $25,338,274. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.